12
May
11:20
Kobe Steel turns losses to profits
Japan’s Kobe Steel made a profit of JPY 23.2 billion ($213 million) in the fiscal year through March 2021 (FY20), compared to a loss of JPY 68 billion in FY19, Kallanish notes.
Although its net sales fell 8.8% year-on-year to JPY 1.71 trillion, operating income soared 208.2% y-o-y to JPY 30.4 billion. This was due to cost reductions, including use of lower-cost materials, and labour and maintenance cost reduction.
In FY20, crude steel production was 5.81 mi…
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Anonymous
Very good overview of the weekly steel market.
Anonymous